TFS Financial CORP — Director's Dealing 2011

Mar 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TFS Financial CORP (TFSL)
CIK: 0001381668
Period of Report: 2011-02-28

Reporting Person: Kobak Bernard S (Director, EVP and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-28	Common Stock	P	10000	$10.562	Acquired	60000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10000	Direct
Common Stock	25000	Indirect
Common Stock	35000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (30000)	30000	Direct

Footnotes

F1: As reported on Form 4 dated August 11, 2008 and filed on August 13, 2008, the reporting person received a grant of 50,000 Restricted Stock Units ("RSUs") on August 11, 2008. The RSUs vest 20% on each of the first through the fifth anniversaries of the date of the grant. On each vesting date, for each Unit vesting on such date, the reporting person will receive one share of TFS Financial Corporation common stock. The first 20% and second 20% of these RSUs vested on August 11, 2009 and August 11, 2010, respectively, resulting in the issuance of 10,000 shares on both dates of TFS Financial Corporation common stock to the reporting person.

F2: The Restricted Stock Units vest 20% on each of the first through the fifth anniversaries of the date of the grant, Restricted Stock Units are entitled to dividend equivalent rights in the form of a cash payment in the amount of any cash dividend paid per share of common stock.